Registered Number 02587407
MASTER TAILOR LIMITED
Abbreviated Accounts
31 December 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
( |
( |
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Net current assets (liabilities) |
( |
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Total assets less current liabilities |
( |
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Creditors: amounts falling due after more than one year |
( |
( |
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Total net assets (liabilities) |
( |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
( |
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Shareholders' funds |
( |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings & equipment - 20%-33.3% reducing balance basis
Other accounting policies
The accounts have been prepared on a going concern basis which the director considers appropriate.
Cash flow statement
The company qualifies as a small company under the Companies Act 2006. The director has elected to take advantage of the exemption under FRS1 not to prepare a cash flow statement.
Stock
Stock is valued at the lower of cost and net realisable value.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date. Deferred tax is not recognised when assets are revalued unless, by the balance sheet date, the company has entered into a binding agreement to sell the assets and recognised the gains or losses expected to arise on sale.
£ | |
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Cost | |
At 1 January 2014 |
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Additions |
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Disposals |
( |
Revaluations |
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Transfers |
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At 31 December 2014 |
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Depreciation | |
At 1 January 2014 |
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Charge for the year |
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On disposals |
( |
At 31 December 2014 |
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Net book values | |
At 31 December 2014 | 2,696 |
At 31 December 2013 | 3,690 |
4 Transactions with directors
Name of director receiving advance or credit: |
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Description of the transaction: |
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Balance at 1 January 2014: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 December 2014: | £ |